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  1. Precommitment, transparency and monetary policy
    Published: 2001
    Publisher:  Dt. Bundesbank, Frankfurt am Main

    Freie Universität Berlin, Universitätsbibliothek
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    Humboldt-Universität zu Berlin, Universitätsbibliothek, Jacob-und-Wilhelm-Grimm-Zentrum
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    TU Berlin, Universitätsbibliothek
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    Brandenburgische Technische Universität Cottbus - Senftenberg, Universitätsbibliothek
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    Europa-Universität Viadrina, Universitätsbibliothek
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    Universität Potsdam, Universitätsbibliothek
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    Source: Philologische Bibliothek, FU Berlin
    Language: English
    Media type: Book
    ISBN: 3933747848
    RVK Categories: QB 910 ; QC 320
    Series: Discussion paper / Economic Research Centre of the Deutsche Bundesbank ; 2001,12
    Subjects: Inflationsrate; Transparenz; Geldpolitik; Notenbank
    Scope: 27 S.
    Notes:

    Zsfassung in dt. Sprache

  2. Precommitment, transparency and monetary policy
    Published: 2001
    Publisher:  Dt. Bundesbank, Frankfurt am Main

    Freie Universität Berlin, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Humboldt-Universität zu Berlin, Universitätsbibliothek, Jacob-und-Wilhelm-Grimm-Zentrum
    Unlimited inter-library loan, copies and loan
    TU Berlin, Universitätsbibliothek
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    Brandenburgische Technische Universität Cottbus - Senftenberg, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Europa-Universität Viadrina, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Universität Potsdam, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Source: Philologische Bibliothek, FU Berlin
    Language: English
    Media type: Book
    ISBN: 3933747848
    RVK Categories: QB 910 ; QC 320
    Series: Discussion paper / Economic Research Centre of the Deutsche Bundesbank ; 2001,12
    Subjects: Inflationsrate; Transparenz; Geldpolitik; Notenbank
    Scope: 27 S.
    Notes:

    Zsfassung in dt. Sprache

  3. Precommitment, transparency and monetary policy
    Published: 2001
    Publisher:  Dt. Bundesbank, Economic Research Centre, Frankfurt am Main

    Conventional wisdom says that commitment eliminates the inflationary bias of monetary policy. However, this paper shows that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central bank... more

    Universitätsbibliothek Braunschweig
    3489-4965
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    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
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    K 2002 B 263
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    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
    Mag5812
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Universitätsbibliothek Kiel, Zentralbibliothek
    WP 6-2001/12
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 935 (01.12)
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    Universität Konstanz, Kommunikations-, Informations-, Medienzentrum (KIM)
    wrc 10.06:i/d29-2001,12
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    Universitätsbibliothek Leipzig
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    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
    02-4129/01,12
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    Universitätsbibliothek Mannheim
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    ifo Institut für Wirtschaftsforschung an der Universität München, Bibliothek
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    Universität Potsdam, Universitätsbibliothek
    00024943
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    MV 7
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    Conventional wisdom says that commitment eliminates the inflationary bias of monetary policy. However, this paper shows that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central bank precommits by setting the policy instrument, and the subsequent adjustment of inflation expectations is part of the transmission mechanism. Generally there is still an inflation bias, despite the absence of a time-inconsistency problem. It is caused by uncertainty about the economic disturbances to which the central bank responds. Only perfect transparency about economic information completely eliminates the inflation bias.

     

    Export to reference management software   RIS file
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    ISBN: 3933747848
    RVK Categories: QB 910 ; QC 320 ; QK 900
    Series: Discussion paper / Economic Research Centre of the Deutsche Bundesbank ; 2001,12
    Subjects: Geldpolitik; Geldpolitisches Ziel; Regelbindung versus Diskretion; Glaubwürdigkeit; Inflation; Inflationserwartung; Risiko; Politische Kommunikation; Vollkommene Information; commitment; inflation bias
    Scope: 27 S, b
    Notes:

    Zsfassung in dt. Sprache

    Literaturverz. S. 22 - 23

  4. Precommitment, transparency and monetary policy
    Published: 2001
    Publisher:  Dt. Bundesbank, Economic Research Centre, Frankfurt am Main

    Conventional wisdom says that commitment eliminates the inflationary bias of monetary policy. However, this paper shows that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central bank... more

    Universität Potsdam, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan

     

    Conventional wisdom says that commitment eliminates the inflationary bias of monetary policy. However, this paper shows that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central bank precommits by setting the policy instrument, and the subsequent adjustment of inflation expectations is part of the transmission mechanism. Generally there is still an inflation bias, despite the absence of a time-inconsistency problem. It is caused by uncertainty about the economic disturbances to which the central bank responds. Only perfect transparency about economic information completely eliminates the inflation bias.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    ISBN: 3933747848
    RVK Categories: QB 910 ; QC 320 ; QK 900
    Series: Discussion paper / Economic Research Centre of the Deutsche Bundesbank ; 2001,12
    Subjects: Geldpolitik; Geldpolitisches Ziel; Regelbindung versus Diskretion; Glaubwürdigkeit; Inflation; Inflationserwartung; Risiko; Politische Kommunikation; Vollkommene Information; commitment; inflation bias
    Scope: 27 S, b
    Notes:

    Zsfassung in dt. Sprache

    Literaturverz. S. 22 - 23